Latest Realty News

DELHI: Much to the cheer of foreign real estate developers, those investing in India’s construction sector might be allowed to exit before the mandatory three years stipulated at present. However, for that, they would have to complete the project and procure completion occupancy certificates from local authorities.

DELHI: The government may reject the urban development ministry's proposal to scrap all restrictions on foreign direct investment below 50% in real estate on the grounds that there can be no exemptions on rules such as minimum area norms.

DELHI: In a bid to bring foreign money to the cash-strapped realty sector, the department of industrial policy and promotion (DIPP) has moved a Cabinet note seeking relaxation of riders on foreign direct investment (FDI) in the construction development sector. The move comes after FDI in real estate dropped 57 per cent year-on-year in 2012-13 .

MUMBAI/BANGALORE: The depreciating rupee may have helped improve property sales to NRI buyers, but it isn't helping the saviour of real estate developers — private equity firms — which are not only stuck with their earlier investments, but can't raise fresh funds either.

DELHI: The government is planning to a give easier exit window to foreign investors in construction, housing and township projects, hoping to spur greater equity inflow into the debt burdened sector and help faster completion of delayed projects.

DELHI: The National Real Estate Development Council (NAREDCO) today urged the Union Government to lower the minimum requirement for developers’ eligibility of Foreign Direct Investment in real estate sector. “This is necessary to bring in more FDI and create more jobs in the real estate sector in the country and help smaller developers meet their funding requirement,” says Sunil Mantri, Vice President of NAREDCO.

DELHI: Expressing hope that Parliament will pass the Real Estate (Regulation and Development) Bill in its Monsoon Session, Housing and Urban Poverty alleviation (HUPA) minister Girija Vyas said that the legislation aims to protect consumer interest but was not against the industry.

DELHI: The enforcement directorate (ED) has slapped a show-cause notice on Emaar MGF Land, a joint venture between Dubai's Emaar Properties and India's MGF Development, for violation of the Foreign Exchange Management Act to the tune of 8,600 crore.